Difference and advantages of formal and informal communication

The difference between Journal and Ledger is that it also aids in comparing and forecasting the company s sales on a daily basis. A journal is an organised record of the company s daily monetary transactions. Each journal entry is a record of the money that the company has debited or credited. A journal can contain a single or multiple entries. Ledger: The Journal s transaction record is transferred to the Ledger. The Ledger contains both the debit and credit parts of an entry. The word To denotes debit side transactions, while the word By denotes credit side transactions.

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